Housing Sales Decline 5.1% in June, Reports RI Realtors
GoLocalProv Business Team
Housing Sales Decline 5.1% in June, Reports RI Realtors
According to the Realtors, sales declined 5.1 percent last month compared to June of 2018.
However, pending sales increased by 14.4 percent.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST“Overall our spring selling season was very active. Low-interest rates have kept the gates open for homebuyers. Since the Federal Reserve has indicated that rates should remain low, we’re hopeful that the market will have continued energy. Homeowners who are on the fence about selling should know that the conditions of today’s market are in their favor. Rates are low and buyers are out there and ready to purchase,” said Dean deTonnancourt, President of the Rhode Island Association of Realtors.
June Numbers
According to RI Realtors, the median price of a single-family home sold in June was 3.3 percent higher than in June of the prior year at $299,500.
Condominium sales increased 12.3 percent and pending sales grew by 32 percent from the prior year.
The number of condos listed for sale fell 1.3 percent.
Multifamily home sales were down 25.6 percent from last year as only 152 multifamily properties sold in June.
According to RI Realtors, five of the past seven months have seen fewer multi-family sales than seen 12 months earlier.
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